Oct 10, 2023 | 2022 Research, Featured Home, Featured Research, Housing & Our Community, Research
Conditions for Arizona’s home buyers are – arguably – more difficult today than they’ve ever been. Interest rates on a new 30-year mortgage loan are over 7%, which is higher than they’ve been since 2001.
Oct 31, 2022 | 2022 Research, Housing & Our Community, Recent Research, Research
The U.S. and Arizona housing markets are in the midst of a sharp correction – the first since the Great Recession. Prices peaked in June and have fallen over 3% through September. Ongoing rising interest rate pressures, a collapse in buyer interest, and lags in the construction and permit approval cycle will likely put continued downward pressure on prices over the next 6-12 months.
